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A man posing as an Uber driver in Scottsdale, Arizona, has been arrested for allegedly stealing over $300,000 in cryptocurrency from unsuspecting passengers. Nuruhussein Hussein, 40, is charged with multiple counts of money laundering and theft after he manipulated victims' phones to transfer funds to his own digital wallet. He is currently held on a $200,000 bail with strict conditions, including electronic monitoring and a ban on internet use.
The BRICS alliance is set to expand in 2025, with growing interest from African nations eager to join. This expansion could enhance bilateral trade and local currency settlements, appealing to developing countries seeking alternatives to the US dollar. Additionally, discussions around cryptocurrency adoption are intensifying, with proposals for an electronic payment infrastructure that may position Bitcoin as a viable alternative to the dollar, potentially reshaping global economic dynamics.
A man in Scottsdale, Arizona, has been arrested for allegedly posing as an Uber driver to steal $300,000 in cryptocurrency from two passengers. Nuruhussein Hussein reportedly lured victims by using their names and then accessed their Coinbase accounts after borrowing their phones. He faces charges of theft, fraud, and money laundering, with a judge imposing a $200,000 bond and electronic monitoring if released.
Eric Trump has called for clear and sensible cryptocurrency regulations in the U.S. to foster innovation and maintain global competitiveness, criticizing past regulatory approaches as detrimental to the industry. He warned that without cohesive guidelines, the U.S. risks falling behind other nations investing in blockchain technology.In related news, BIT Mining has expanded its operations by acquiring data centers and Bitcoin mining equipment in Ethiopia, with plans to finalize the expansion by early 2025. The company has also reported significant profits from mining Litecoin and Dogecoin, driven by recent price surges.
Ethiopia has transferred ownership of 10 state-owned companies to its sovereign wealth fund to enhance their management. The firms include Ethiopian Electric Power, Ethiopian Railway Corp., and the Development Bank of Ethiopia, which are involved in major infrastructure projects like the Ethio-Djibouti railway and the Great Ethiopian Renaissance Dam.
Donald Trump threatened 100% tariffs on goods from BRICS nations, including India, if they attempt to undermine the US dollar as the global reserve currency. This warning comes as BRICS expands to 10 members in 2024, with India advocating for increased use of local currencies to mitigate trade disruptions.
Ethiopia has experienced a fallout with the Mogadishu government over plans to construct a port in the breakaway region of Somaliland. This development is tied to potential recognition of Somaliland's sovereignty, highlighting tensions in the region.
Ethiopian lawmakers have approved a significant increase in government spending, adding 581.98 billion Ethiopian birr (approximately $4.8 billion) for the 2024/25 fiscal year. This decision reflects the government's commitment to bolster its financial plans amid ongoing economic challenges.
Bureaucracy hampers the installation of EV chargers in residential buildings, echoing broader consumer resistance to clean energy technologies. While China leads in EV adoption and renewable energy advancements, Europe struggles with policy and investment challenges, emphasizing the need for collective action and innovative solutions to achieve climate goals.
Ethiopia is set to export approximately 100 megawatts of electricity to Tanzania through Kenya, pending the finalization of a cross-border trade agreement. The amount of power to be traded may be adjusted during the upcoming negotiations, according to Ethiopian Electric Power spokesperson Moges Mekonnen.
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